CNN – Business/Consumer

By Samantha Delouya, CNN (CNN) — Homebuying in the United States has recently slowed to a crawl, but falling mortgage rates could soon jolt it back to life. For potential homebuyers who may have been itching to come off the sidelines, the recent drop in mortgage rates may be a double-edged sword. Lower rates could

By Elisabeth Buchwald and Bryan Mena, CNN (CNN) — It’s been another rollercoaster of a year so far for the US housing market. Elevated mortgage rates and home prices have pushed prospective homebuyers to the sidelines. In addition, homeowners have been reluctant to put their properties on the market and risk potentially forfeiting the ultra-low

By Alicia Wallace and Matt Egan, CNN (CNN) — Last year, consumers shelled out big bucks for their back-to-school shopping needs, spending a record $41.5 billion, according to estimates from the National Retail Federation. That whopping tally, which amounted to more than $890 per household, bested 2021’s all-time high by roughly 12%. While higher prices

By Nathaniel Meyersohn, CNN New York (CNN) — It’s never been harder to be Mister Softee. Once, there were more than 2,000 Mister Softee trucks in 38 states during the company’s peak in the 1960s. Now, there are only around 630 Mister Softee trucks looping around neighborhoods and parks in 21 states. Competition and rising

By Jordan Valinsky, CNN New York (CNN) — In the waning weeks of summer, the hottest spot for celebrities to be seen in New York isn’t the beaches of Montauk or the polo fields in Bridgehampton. Rather, it’s slightly uncomfortable, blue plastic chairs in Queens — but surrounded by luxury. Monday kicks off the US

By Hadas Gold, CNN New York (CNN) — A new presidential candidate, a slew of celebrities and slick programming helped propel Democrats and Vice President Kamala Harris to a ratings win at this week’s Democratic National Convention, surpassing the television viewership of last month’s Republican gathering. Viewership of the four-day festivities in Chicago drew an

By Jordan Valinsky, CNN New York (CNN) — New Starbucks CEO Brian Niccol won’t be a constant presence at its Seattle headquarters where he takes the helm next month. Instead, he’s going to commute weekly from his California home. The setup was revealed last week in Niccol’s offer letter, which is giving him a “small

By Bryan Mena, CNN Washington (CNN) — After a grueling two years of high inflation and elevated interest rates, Americans are finally set for some relief: Federal Reserve Chair Jerome Powell on Friday offered his strongest affirmation yet that a rate cut is coming next month. But the size of that relief remains an open

By Bryan Mena, CNN Washington (CNN) — America’s top central banker has unambiguously signaled that lower interest rates are finally on the horizon, marking a crucial milestone for the Federal Reserve’s historic — and, so far, successful — inflation fight. “The time has come for policy to adjust,” Fed Chair Jerome Powell said in prepared

By Krystal Hur, CNN New York (CNN) — Stocks rose Friday afternoon as Wall Street cheered a signal from Federal Reserve Chair Jerome Powell that long-awaited interest rate cuts are finally coming. The Dow rose 328 points, or 0.8%, after jumping more than 400 points earlier in the day. The S&P 500 gained 0.8% and

By Matt Egan, CNN (CNN) — Halliburton confirmed on Friday that it was hit by a cyberattack that forced the major oilfield services company to take systems offline. In a filing, Halliburton said it became aware on Wednesday that an “unauthorized third party gained access to certain of its systems.” Halliburton said it immediately “activated its

By Jordan Valinsky, CNN New York (CNN) — It’s not $5, but Subway is bringing back cheap footlongs and joining the fast food value menu wars. Beginning August 26, Subway will sell any footlong sandwich for $6.99 — a steep discount considering that some footlongs can cost as much as $14 in some cities. It’s

By Devan Cole and Marshall Cohen, CNN Wilmington, Delaware (CNN) — Newsmax CEO Chris Ruddy knew the right-wing cable outlet had no evidence to back up its claims that Smartmatic was involved in rigging the 2020 election even as it continued to push the lies on its air, an attorney for the voting technology company alleged on Thursday.

By Erika Tulfo, CNN (CNN) — Shares of beleaguered exercise equipment company Peloton rallied sharply on Thursday after it reported its first rise in sales in more than two years. The home fitness company brought in $644 million in sales, up 0.2% from the year before, and its shares surged more than 35%. That might

By Chris Isidore, Ramishah Maruf and Paula Newton, CNN New York (CNN) — The Canadian government stepped in to end a shutdown of the nation’s two major freight railroads less than 17 hours after it started, ordering binding arbitration to end the labor dispute that threatened severe disruptions in both the US and Canadian economies.